Medium Americano with cinnamon.
!Warning - This is not Financial advice: Do not trade or invest based on this analysis!
I was troubled by the lack of reaction BTC this morning at an apparent resistance level, so I checked a couple of other platforms. This morning's charting was using TradingView with Bitfinex BTC prices.
Using MetaTrader 4 platform with an aggregated BTC price from Naga seems to make more sense.
I've also cleaned up the chart so it's less distracting.
Two main scenarios over the next few days:
- Bull - Break-through $11,850 - looking for a strong full bodied green candle with an uptick in volume.
- Bear - Bounce off $11, 800 and a break down through the rising trendline.
Note - the solid black trendlines are still 'intact'. Dashed black tendlines are broken trendlines (meaning they are less relevent to future price action but may still act as support or resistance)
The on-balance-volume indicator (bottom turquoise line chart) continues to strengthen (pointing to accumulation) which currently supports a bullish case.
Although, it could all change tomorrow.
Cheers,
Bobby.
The next few days will tell a lot.... I took profit yesterday on half my holding :-)
Nice @dallyg. might turn out to be a very wise move.